Planning for Retirement
No matter where you are in your life stage, it’s never too early to begin thinking about retirement. Because after working hard for 30 or 40 years, you deserve to take it easy and do the things you enjoy most in your retirement years.
That also means not worrying about whether you have enough money after you retire. We don’t want you to have to worry either.
How can you help me save for retirement?
The best place to begin is with our IRA Service Center. We offer a wide variety of IRAs that allow earnings and contributions to grow tax-deferred. You never pay taxes on the money in your IRA until you withdraw the money after you retire, and at that point you’ll most likely be in a lower tax bracket.
We offer a Traditional IRA in which you can invest up to $5,500 per year in your account. If you’re 50 or over you can make “catch up” contributions to your IRA. However, you can’t withdraw the money before age 70 1/2 without a penalty.
We also offer a Roth IRA, which allows you to withdraw the money before age 70 1/2, but it does have some limitations on the amount you can contribute based on your income level.
If you need to create an account to save money to open a Traditional or Roth IRA, many members use our IRA “No Term” Share Account. It’s similar to a savings account, but the money is saved specifically to an IRA account.
You can also invest in a high-yielding Mini-Jumbo IRA certificate. A minimum deposit of $50,000 is required and you can choose from either an 18-month or 60-month term.
You’ll like our rates. See for yourself when you click here.
To see how much you’ll need to save for your golden years, go to our Retirement Income Calculator. For more guidance to help you save, use our Retirement Planner.
I have my own business. Do you offer a retirement savings plan for me or my employees?
Yes. We have a Simplified Employee Pension (SEP) Account that is specifically created for self-employed members or small business owners who want to provide a retirement plan for themselves and their employees with little administrative responsibilities. Contributions are deposited into employees’ Traditional IRAs and are tax deductible.
What insurance products are available to me?
This is also a good time to review your insurance needs. We offer a Term Life Plan with benefits of $50,000, $100,000 or up to $150,000 to help make sure your family is protected.
We also offer Whole Life Insurance through The Family Security Plan. Members are automatically eligible for coverage up to $100,000 and can be paid for through payroll deduction.